Thanks Mary, You will see my comment on the BankThink site...
As Mr. Isaac states, this issue has become much more complex. I too have concerns over the industry's outsourcing of deposit gathering. However, the specific current regulatory approach of capping deposit interest rates at levels far below the levels that would bring in the volumes that would lead to overheated lending activity threatens the entire system as it is effectively a poison pill for anyone forced to comply with it. (Current 12-month rate cap is 1.24% vs FHLB rate of 2.94%)
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Neil Stanley
President of Community Banking
TS Banking Group
Treynor, Iowa
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Original Message:
Sent: 11-18-2018 14:10
From: Mary Fowler
Subject: Brokered deposits are the devil.....
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As Mr. Isaac states, this issue has become much more complex. I too have concerns over the industry's outsourcing of deposit gathering. However, the specific current regulatory approach of capping deposit interest rates at levels far below the levels that would bring in the volumes that would lead to overheated lending activity threatens the entire system as it is effectively a poison pill for anyone forced to comply with it. (Current 12-month rate cap is 1.24% vs FHLB rate of 2.94%)
------------------------------
Neil Stanley
President of Community Banking
TS Banking Group
Treynor, Iowa
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Original Message:
Sent: 11-18-2018 14:10
From: Mary Fowler
Subject: Brokered deposits are the devil.....
Please share this link and spread the word that there are still strong forces fighting against the use of brokered deposits. We all need to work together to assure regulators and legislators that brokered deposits are NOT inherently bad.
Go to American Banker on Twitter and Facebook and find this post. BankThink also tweeted this article. Comment, reply, tweet, "like" contrarian posts and tweets, etc. We're all in this together!
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